Kieran Maguire suggests legal docs signed amid West Ham takeover update
PAI have likely signed a non-disclosure agreement that prevents them from verifying that they provided proof of funds for a West Ham buyout.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest developments in the takeover tug of war.
West Ham majority shareholder David Sullivan told BBC Sport in July that no proof of funds were given as part of PAI’s approach in February.
But the private investment firm has repeatedly insisted that they provided evidence that they had the capital to meet Sullivan’s asking price.
Speaking to talkSPORT (via Football.London on 17 August), PAI’s Philip Beard reiterated several times that proof of funds had been shown to GSB.
Maguire asserts that an NDA probably blocks either side from validating their opposing claims.
He told Football Insider correspondent Adam Williams: “I suspect there is no way of verifying it.
“There will likely have be non-disclosure agreements between parties. Therefore, that cannot be put out in the public domain.
“The issue here is that proof of funds was provided for an offer that was deemed inadequate.
“Let’s say you’re living in a house worth £200,000. If I come around and say I’ve got a mortgage approval for £100,000, you’ll say to me that’s no good.
“That is the position we’re in. They are now trying to counsel public opinion through social media.
“From a fan’s perspective, when GSB look like the good guys, there‘s reason to be cautious.”
In other news, pundit claims West Ham fans will be worried by “surprise” David Moyes transfer admission.